Daily Recap: Stocks Retreat | REITs Flat | Strong Retail Earnings
Reports of stalled trade talks between the US and China, along with another day of Impeachment Hearings in Washington, dragged down US equity markets despite strong earnings from two of the country's largest retailers, Lowe's (LOW) and Target (TGT). Still riding a streak of six straight weeks of gains, the S&P 500 ETF (SPY) declined by 0.4% on the day while the Nasdaq ETF (QQQ) declined by 0.6%, each turning negative on the week. The 10-Year Treasury Yield (IEF) continues to pull-back, ending the day lower by another 5 basis points to close at 1.74% after hitting a four-month high of 1.97% in early November.
